Nio has outlined plans for the establishment of two new EV brands – and said the first right-hand-drive prototypes of existing Nio cars have been constructed.
Speaking to the media ahead of the Chinese firm’s annual Nio Day presentation (set to take place on 24 December), CEO William Li confirmed Nio had progressed its second “family car” brand to the point that construction of validation prototypes of its first model was taking place.
Known internally under the Alps codename, it’s among two additional brands planned by Nio as part of an expansion strategy aimed at taking it deeper into global volume markets, including Europe.
“It has been over a month since the Alps VB [verification build] was completed,” said Li. “[It’s] focused on the family market, which means product definition will be easier and clearer [than with the Nio brand]. In contrast, high-end brands need to offer some emotional elements.
“Starting next year, you will see a different Nio as it introduces a second brand. The family market is distinct from the high-end market. We’re using our latecomer advantage. In the past, once the VB was completed, it would quickly enter SOP [start of production]. But this time, we will wait a bit, and in the end, we will come in and disrupt the game.”
Li revealed that the Alps brand will launch three models in its initial phase, with retail activities planned to take place through an internet-based direct sales channel.
Asked about the lines of delineation between Alps and Nio, he said: “You won’t see a Nio model priced below the ET5.” Prices for that saloon start at €47,500 (£40,950) in selected European markets.
The Nio and Alps brands will be supported by a third brand, known under the codename Firefly. Confirmed by Li in January 2023, it’s planned to compete at a lower price point than Nio and Alps with a range of affordable electric cars engineered specifically for European markets and planned to compete against rivals from the likes of Volkswagen, Renault and Ford.
On the subject of Nio’s plans for the UK, Li said: “Right-hand-drive prototypes do exist, but we will first focus on understanding and establishing ourselves in [other] European markets.”
Other markets being targeted by Nio include the UAE.
“A few months ago, we tested driving the ET7 back and forth between Abu Dhabi and Dubai without any issues,” said Li. “By setting up battery swap stations, we can easily solve the energy replenishment problem.”
Nio’s entry into the US market remains in the planning phase.
As well as outlining its volume market aspirations, Li confirmed that Nio is working on a “high-end model” aimed at further establishing the nine-year-old Chinese firm as a reputable competitor to the likes of Audi, BMW, Mercedes-Benz and Porsche.